Even after Tech Mahindra took over the beleagured IT company, Satyam, the company will remain listed only as ''Satyam'' on the New York Stock Exchange (NYSE).Mired in accounting fraud of about 1.5 billion dollars after disclosure in January this year by Satyam founder Byrraju Ramalinga Raju, Tech Mahindra had taken over the management with the Company Law Board (CLB) clearance and rechristened it as...
|
services firm Mahindra Satyam said legal notices claiming a refund of Rs12.3 billion ($265 million) by 37 companies are "legally untenable".In June, the company had received notices from a clutch of companies claiming a refund of advance payments.Mahindra Satyam, earlier known as Satyam Computer Services, was acquired by Tech Mahindra in April after the firm was hit by India's biggest corporate fraud,...
|
Hyderabad, Oct 26 : Even after Tech Mahindra took over the beleagured IT company, Satyam, the company will remain listed only as 'Satyam' on the New York Stock Exchange (NYSE).Mired in accounting fraud of about 1.5 billion dollars after disclosure in January this year by Satyam founder Byrraju Ramalinga Raju, Tech Mahindra had taken over the management with the Company Law Board (CLB) clearance and...
|
Larsen & Toubro informed BSE on Friday that it has sold 2.72 crore shares of Mahindra Satyam. It had earlier said that it did not have any strategic interest in Mahindra Satyam.L&T had earlier sought regulatory permission to sell its holding in Mahindra Satyam. Before its partial stake sale, the engineering major held a 6.9 per cent in the IT company.L&T, which was in the race to acquire erstwhile...
|
Business performance at Indian software exporter Satyam Computer Services Ltd. is "more or less" in line with what Tech Mahindra Ltd. estimated when buying Satyam in April, the fraud-hit company's chief executive said Monday."The company had made certain internal assumptions for the Satyam acquisition. Our business performance is more or less in line with the business case we had built," C.P. Gurnani...
|
IT services firm Mahindra Satyam has added 35 new clients since April 13 and lost just a small handful, said the firm's chief executive officer, who added that the worst was behind the company.Mahindra Satyam was earlier known as Satyam Computer Services. Satyam was acquired by India's Tech Mahindra in an auction in April after the firm was hit by India's biggest corporate fraud, which came to light...
|
MUMBAI: The employment contract of Vineet Nayyar, vice-chairman and MD of Tech Mahindra, who helped the company acquire Satyam Computer Services, is set to expire in January next year. At 70, Mr Nayyar is one of the oldest executives to head an IT business. His sharp business sense helped to make Tech Mahindra the fifth largest IT exporter from the country. Mr Nayyar, who is also now executive vice-president...
|
HYDERABAD: The Mahindra group, the new owner of Satyam Computers and the largest shareholder in Tech Mahindra, is set to merge the two companies after June next year to transform the combined entity into an Indian information and communication technology powerhouse. “The merger of Satyam and Tech Mahindra can happen after Satyam’s accounts are re-stated. The Company Law Board (CLB) has given us time...
|
Mahindra Satyam is working on proposals to position itself as an information and communication technology (ICT) company as against its present profile as an IT company to pave for its merger with Tech Mahindra.C. P. Gurnani, Chief Executive Officer, Mahindra Satyam, explained to journalists in an informal interaction here on Monday that the Mahindras were likely to go ahead with the plan after restatement...
|
NEW DELHI: Indian IT services firm Mahindra Satyam has added 35 new clients since April 13 and lost just a small handful, said the firm's chief executive officer, who added that the worst was behind the company. Mahindra Satyam was earlier known as Satyam Computer Services. Satyam was acquired by India's Tech Mahindra in an auction in April after the firm was hit by India's biggest corporate fraud,...
|
